Since the beginning of June, the value of Brainy Brands Company Inc. (OTC:TBBC) has plummeted to $0.99 down from $1.6. The first two days of the downward slalom happened on huge volumes, but later after the stock was delegated to the penny area the daily number of traded shares decreased with the outflow of investor interest.
Yesterday for example, only 230 thousand shares were turned over, which is four times lower than the 90-day average. The selling pressure on the stock was visible almost throughout the whole session as the stock price kept moving below the previous close after 11p.m. As a result a decline of 3% lowered the share value to $0.99.
The general bearish mood towards TBBC stock was supported by strong signals from the technical indicators. For example, the short-term moving averages have been in a bearish stance ever since they made a downward cross in the beginning of June. The same scenario is valid for the MACD indicator as well. However, the MACD is currently pointing to diminishing selling pressure, which means there is some possibility for the downhill roll to stop, or at least to ease for a while. [BANNER]
TBBC has been constantly issuing updates on its operations this month. Apparently, this practice was not enough to turn the tide for the struggling stock. One week ago, TBBC said it was going to hold an exhibition at the Licensing International Expo in Las Vegas. However, on that day the stock fell another 4% to $1.01 down from $1.05.
So, it seems that TBBC is facing rough times trying to fight against the stubborn market sentiment with a series of announcements. The efforts have been futile so far. Investors will have to wait for the technical indicators to give a firm signal that the market mood has changed, so as to act more safely on the long side.
